Bangladesh Bank has amended its foreign exchange transaction guidelines to allow sale proceeds from shares and securities purchased through Non-Resident Investors Taka Accounts (NITA) to be directly credited to the respective accounts before repatriation abroad, the central bank said in a circular.
Under the revised rules, authorised dealers are responsible for deducting or withholding applicable capital gains tax before transferring funds overseas. Previously, non-resident investors had to obtain an auditor’s certificate to determine tax liability, which caused delays and increased compliance costs, the bank said.
The amendment, issued through a circular modifying paragraph 24(v) under Section-IV of Chapter 14 of the Guidelines for Foreign Exchange Transactions, Volume-1, is designed to streamline operations, reduce procedural delays, and lower compliance costs while ensuring tax collection. The directive takes effect immediately and applies to all authorised foreign exchange dealers in Bangladesh.
